Oireachtas Joint and Select Committees

Thursday, 12 May 2022

Public Accounts Committee

2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020

9:30 am

Ms Mary Harney:

The point I make is that €3 million is not a valuation. It is a derelict site, a vacant site. I am sure the Deputy knows that if someone is going to CPO property they put in an opening offer. It sometimes goes two, three or four times higher than that. I do not want to read it again but it is in the record here. The people who carried out that valuation said it was desktop that they had not seen the property and they would need to have access to it and inspect it to know its potential from a planning point of view and then they would give a valuation in the context of a purchase or acquisition. The point I make is that €3 million cannot be compared with €8 million. It would not be fair or right to do so.